Science and Technology Development Journal

An official journal of Viet Nam National University Ho Chi Minh City, Viet Nam since 1997

Skip to main content Skip to main navigation menu Skip to site footer

 Section: ECONOMICS, LAW AND MANAGEMENT

HTML

1207

Total

391

Share

Analysis of the Influence of Financial Informatization on Improving Financial Control Ability






 Open Access

Downloads

Download data is not yet available.

Abstract

This paper mainly conducts in-depth research on the influence of financial informatization on improving financial control ability. According to the advantages of combining financial management and informatization, it expounds the role of financial informatization in improving financial control ability, such as constantly improving the quality of financial internal control, helping to improve the quality of financial management, achieving the integration of financial and business management development objectives, improving the work quality of financial personnel, strengthening the ability to control enterprise risk, and providing a high-quality platform for enterprise financial management and assessment. Then, it puts forward some feasible measures for the construction of informatization, mainly including employees continuously improving financial management consciousness, innovating financial management methods and systems, promoting the full use of financial information and strengthening the informatization construction of enterprise financial management work safeguard mechanisms to realize financial informatization construction and improve financial control ability.

Introduction

In today's society, with the continuous development of the economy, competition in the market is increasingly fierce. From the perspective of enterprises, to occupy a certain position in the fierce competition and enhance their core competitiveness, they should implement optimal allocation of resources through financial management to give full play to the role of resources and constantly improve the utilization rate of resources. Therefore, the importance of financial information should be clearly reflected in the rational allocation of enterprise resources. Thus, it is necessary for enterprises to take effective measures to strengthen the construction of financial information and, to a certain extent, to continuously improve the financial control ability of enterprises.

The advantages of combining financial management with information technology

(1) The significance of financial informatization

Financial informatization promotes the integration of traditional financial management projects and computer network technology and can combine the two. Through a computer network, financial information is involved in the original financial management project to implement a series of operations, such as collection, accounting and supervision. The application scope of informatization is relatively large, has a certain universality, and can better meet the relevant requirements of financial management. This technical means not only help strengthen the financial accounting ability of enterprises but also help to comprehensively check the company's financial income and expenditure. This way of promoting the relevant staff to better understand the financial situation of the enterprise to protect the interests of the enterprise is very reasonable and scientific.

(2) The characteristics of financial informatization

Financial informatization is a financial management mode advancing with the times. This financial management mode is constantly updated with the development of the times, and the collection and accounting of financial information are consistent. This project has the following characteristics. First, it has timeliness. The application of this technology focuses on timeliness, which can continuously input a large amount of financial information and data and comprehensively analyze this information to sort out and obtain financial data with certain value in time. Second, it is normative. Financial informatization has been applied in enterprises and formed an industry at the same time. Specifically, for financial management, the use of this financial information management technology has been the primary choice. This phenomenon tends to standardize the financial management industry. Third, it has concentration. Financial informatization has a certain comprehensive analysis ability, and the most important point to realize the storage of financial information is to achieve comparative analysis. Finally, with a high level, this kind of financial management technology can better adapt to the changeable market competition and bring convenience for the management personnel to adjust the enterprise. Information technology cultivates a large amount of financial management talent for the market.

The role of financial informatization in improving financial control ability

(1) Constantly improving the quality of financial internal control

Reasonable application of information technology to a certain extent not only improves the enterprise's ability to improve, especially the internal control ability, inspection and prevention ability and feedback ability, but can also lay a good foundation for the timeliness and flexibility of financial management. At the same time, the relevant financial software not only has the advantage of a large amount of information but also has a certain flexibility. Based on the development background of financial management information, the financial department can effectively supervise the flow of the capital chain and realize real-time supervision. Its management technology can not only concentrate enterprise operation resources but also make financial data information resources reasonably allocated. The online sharing of financial data resources indicates that financial accounting information services work smoothly and continuously improve the quality of service. At the same time, financial management informatization can also provide a good working environment for financial work and help improve financial control. In addition, the construction of financial informatization can be strengthened to improve the coping ability of enterprises and encourage enterprises to better deal with emergencies.

(2) Improve the quality of financial management

With the deepening of the internationalization degree of market economy enterprises, enterprises' foreign-related projects are increasing. Therefore, for this development phenomenon, if the traditional mode is still used in the process of financial management, it is difficult to better meet the needs of enterprise financial development and cannot be in line with foreign advanced enterprises or keep pace with the times. The research results show that the more frequently companies exchange information, the higher the rate of capital transfer between companies. Based on this, its data and other aspects should be shared to strengthen the construction of the information financial management mode. At present, relevant online capital transactions will be optimized against the background of the continuous development of the network, such as tax declaration, verification, finance and capital business.

(3) Realize the integrated development of financial and business management

Enterprise financial management work not only needs to deal with enterprise financial information resources but also needs to comprehensively deal with financial-related information to promote orderly financial management work and achieve orderly management. Simply speaking, it involves financial planning, capital budgeting and financial supervision. In the process of financial informatization, enterprises should strengthen financial information integration management and the application of computer information data processing functions based on integrated software. During the actual operation of the enterprise, financial business management refers to the collection and processing of financial data and information. It is necessary to strengthen the connection with the sales department and the collection department based on the whole and realize online sharing of data resources and other aspects with these departments. Only in this management background can enterprise financial management work smoothly and achieve the goal of management to ensure the stable development of enterprise financial management.

(4) Improve the work quality of financial personnel

There are differences between financial information management and traditional financial management, and these differences put forward corresponding requirements for the financial management staff of enterprises. Enterprise financial management personnel should not only fully understand financial management and economics-related knowledge but also be proficient and learn to skillfully operate the computer. Through the comprehensive implementation of financial information management work, financial management work behavior can be made more standardized so that the comprehensive quality of the staff is improved.

(5) Strengthen the ability of enterprises to control risks

The application of information technology can further expand the scope of financial internal control. At the same time, the intelligent and information-based data processing system will minimize the probability of error but also reduce the cost of financial management and monitoring so that the financial risk control ability has been improved. Enterprises should strengthen the construction of online banking systems. Financial personnel only need to complete special transfers at home, and there is no need to queue up at the bank window to prevent the occurrence of theft risk, not only to ensure the smooth completion of the work but also to continuously improve the security of financial information resources. Every online transaction is recorded in great detail, and its funds and other aspects are stored no matter where they go, providing an important guarantee for the security of enterprise project funds. At the same time, through financial informatization construction, the enterprise financial department can implement a series of work for financial information, especially the budget and supervision and verification, and regulation from each link management, including close comparisons with national data, to strengthen the comprehensive evaluation of financial work completion. Then, in the process of financial management, if there are problems that can be found in time, effective ways can be taken to solve them and fully understand the relevant situation inside the enterprise, such as fund operation and fund debt situation. In the context of the development of financial informatization, enterprises can find potential risks in time and implement early warnings for the first time, which promotes the budget management and internal control of the financial departments of enterprises to a certain extent.

(6) Provide a high-quality platform for enterprise financial management and assessment

In fact, the enterprise financial information management system belongs to the information database and is very large, which can not only promote the smooth implementation of enterprise management through the scientific data platform data source but also obtain a good management effect. For example, corporate financial staff can call financial data through information operation and analyze and compare such data information, understand the actual situation of enterprise economic development, and help enterprise leaders make scientific decisions. At the same time, the sharing function of financial informatization can continuously improve the transparency of internal financial work of enterprises and promote the smooth implementation of internal financial management of enterprises. At the same time, financial information management software has two kinds of abilities, information collection ability and query ability, which is convenient for staff to better query financial information. Usually, internal financial management software increases the corresponding financial management assessment system to achieve enterprise financial information management and constantly improve the management level.

The problems existing in the current enterprise financial informatization construction

(1) The insufficient degree of understanding of financial informatization construction

It is complicated to analyze the construction of enterprise financial information management systems, which requires enterprises to combine network technology, strengthen the construction of local area networks, and develop financial management systems independently. In the early stage of the establishment of the system, restructuring and upgrading should be strengthened and comprehensively implemented around the existing network so that the realization of the above process will take much time. Based on this, some enterprise managers do not have enough understanding of the importance of financial informatization construction to enterprise development and thus do not take the initiative to participate in financial informatization construction. In addition, in terms of financial information construction and other aspects, enterprise managers do not stand in the perspective of long-term development, and they do not stand in the perspective of strategic development in terms of the upgrading of enterprise management mode, and their thoughts are lagging behind.

(2) Imperfect financial information system

The development time of financial informatization construction is relatively short, and the key technologies needed in the network have not been fully mastered. In addition, the development of each enterprise is different. In general, the establishment of a financial management system is based on a customized method combined with the actual situation of the enterprise and targeted to strengthen the construction of an information system. Although network technology can provide convenience for work, it is easy to cause network security risks, and it is very important for enterprises to speak of financial data, so we should pay attention to the security of the financial network system operation environment. However, as a relative concept of network security, there is no absolute security, and the system will inevitably have some risks. In addition, the financial management system of the enterprise is basically undertaken by external network engineering companies. Due to the lack of understanding of enterprise development, the system cannot be perfected. Some enterprises strengthen the training of technical personnel in the actual development process, but the problem of capital shortages affects the liquidity of enterprise funds.

(3) Lack of high-quality staff

The participation of employees is indispensable in the work of the enterprise. The staff work is the main body, and employees with high comprehensive quality can promote the development of the enterprise to a certain extent. However, in view of the current situation, the comprehensive quality of some employees is not high, especially the professional quality and cultural quality, which will affect the work of the enterprise to a certain extent, and it is difficult to guarantee the smooth completion of the work.

The construction of effective financial management information measures

(1) Continuously improve staff's awareness of financial management

Under the circumstance of constant change in an enterprise’s external environment, enterprise financial management should keep pace with the times and adapt to the development of the times. Based on this, enterprises want to ensure the smooth implementation of financial management, realize information management, and constantly improve the level of information management, not only to emphasize the importance of this work to the staff but also to further deepen the staff financial management information work concept. In the specific work, financial information management, as the core, plays a driving role in driving up the information construction of other departments 1 . At the same time, enterprises should strengthen the cultivation of financial information management talent, build a management talent team with high comprehensive quality, better understand advanced management technology, and then improve the financial control ability of enterprises.

(2) Actively innovate financial management methods and systems

Different from traditional finance, there are many technology management components, and management personnel need to fully understand information technology-related knowledge and master it. At the same time, financial personnel should also enhance their knowledge of enterprise information and standardized management modes and systems and fully understand that the combination of technology and management modes can promote enterprise operation and management so that it can obtain a good management effect 2 . However, due to the rapid updating process of information technology and other aspects, enterprises need to take effective measures to actively innovate on the basis of the existing management system and methods to promote the development of enterprises.

(3) Promote the full sharing of financial information

The improvement of the organizational efficiency of an enterprise requires close contact and active cooperation between various departments within the enterprise and communication between the enterprise and external enterprises to establish a good cooperative relationship in the process of communication. Its financial data and other aspects of the realization of sharing are conducive to better coordination of various departments and promote cooperation between enterprise partners 3 . Based on this, from the perspective of the enterprise financial management department, we should attach great importance to financial information sharing and comprehensively promote it to promote the better development of enterprises.

(4) Establish a financial network system in line with the development status of the enterprise

The foundation and guarantee of the realization of financial management informatization lies in perfect hardware and software, and the implementation of financial informatization is inseparable from stable computer hardware and software. This obviously reflects the importance of financial management configuration, so it should be combined with the actual situation of the enterprise to make a reasonable choice. For the corresponding problems in financial management work to strengthen the financial construction of each subsystem, and through the implementation of the system analysis and processing, to fully integrate all kinds of financial resources, on this basis to strengthen the logarithm according to the construction of library, and rational allocation of the various functions of operation, especially the storage and query functions 4 . This can not only ensure the smooth implementation of financial management work but also obtain a good management effect, and after the full implementation of financial data storage management, facilitate the reasonable allocation and use of enterprise funds. The most important point is to achieve the control of financial risk to ensure the security of financial data 5 .

(5) Perfecting the informatization construction of enterprise financial management

In terms of ideological understanding, enterprises need to establish the concept of financial management. With the continuous development of the economy, enterprises need to change the financial management mode under the previous planned economy system and attach great importance to the control of capital flow, taking it as the focus. In the process of enterprise internal management, the management department should not only pay attention to financial management but also strengthen the construction of internal systems and enhance the awareness of risk prevention 6 . In terms of system management, enterprises need to recognize that financial information construction and accounting computerization are different, make clear the difference between the two, strengthen the construction of centralized financial systems and networks, and then play a supporting role through centralized management to implement the management of enterprise financial management personnel, financial management and capital monitoring using information technology means, so with the establishment of a system to achieve enterprise financial information management 7 .

(6) Strengthening the Management of All Levels of the Enterprise

Enterprise internal management should be at the center of financial informatization construction work, and then in the departments at all levels, information management should be implemented to carry out the instructions and to strengthen the financial management work of financial informatization construction planning; however, in the actual formulation process, it must be based on their own financial management work of a specific process and on information management information 8 . At the same time, it is necessary to clearly position the functions of each department, determine the relevant responsibilities of the post, implement the responsibility for each person, pay attention to the division of labor between various departments, and prevent the existence of blind construction 9 .

Conclusion

Enterprise information management plays an important role in improving financial management and control ability, which is mainly reflected in the following two aspects. On the one hand, financial information management promotes the smooth implementation of enterprise financial management, constantly improves the level of financial management, and enhances financial control. On the other hand, the improvement of the enterprise's financial control ability drives the improvement of the enterprise's various capabilities and enables the enterprise to occupy a certain position in fierce market competition, enhance its core competitiveness, and promote the enterprise's better development.

Acknowledgments

xxx please add if any

Competing interests

The authors declare that they have no competing interests.

References

  1. Jiong W. Research on the Improvement of group financial control ability by enterprise Financial informatization construction. Fin Econ. 2019;11:141. . ;:. Google Scholar
  2. Jiwei Z. Analysis of the role of financial informatization in improving financial control ability. Enterpr Reform Manag. 2017;19:125. . ;:. Google Scholar
  3. Gao J. Research on the corporate financial transformation with big data. Technologies. 2022;32:8-12. . ;:. Google Scholar
  4. Qin W. Analysis of the role of financial informatization in improving financial control ability. Fin Econ. 2015;17:245. . ;:. Google Scholar
  5. JUN G. Comparison of fintech development between China and the United States. International Journal of Innovative Science and Research Technology (IJISRT). Available from: http://www.ijisrt.com. ISSN - 2456-2165 , PP :- 1150-1155. (Volume. Issue. April 4. 2022. 7). . ;:. Google Scholar
  6. Xiaoxu X. Analysis of the role of financial informatization in improving financial control ability. Mark Wkly (Theor Ed). 2018;18:1. . ;:. Google Scholar
  7. Gao J. Analysis of enterprise financial accounting information management from the perspective of big data. Int J Sci Res. 2022;11(5):1272-6. doi: 10.21275/SR22514203358, https://www. ijsr. net/get_abstract. php.:1272-6. . ;:. Google Scholar
  8. Gao J. Analysis of enterprise financial accounting information management from the perspective of big data. Int J Sci Res. 2022;11(5):1272-6. . ;:. Google Scholar
  9. Guoqiang F. How to improve the financial control ability of research institutes to subordinate enterprises under the new Situation. Fin Econ. 2020;4:188-9. . ;:. Google Scholar


Author's Affiliation
Article Details

Issue: Vol 26 No 3 (2023)
Page No.: 2937-2942
Published: Sep 30, 2023
Section: Section: ECONOMICS, LAW AND MANAGEMENT
DOI: https://doi.org/10.32508/stdj.v26i3.3965

 Copyright Info

Creative Commons License

Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

 How to Cite
Gao, J. (2023). Analysis of the Influence of Financial Informatization on Improving Financial Control Ability. Science and Technology Development Journal, 26(3), 2937-2942. https://doi.org/https://doi.org/10.32508/stdj.v26i3.3965

 Cited by



Article level Metrics by Paperbuzz/Impactstory
Article level Metrics by Altmetrics

 Article Statistics
HTML = 1207 times
PDF   = 391 times
XML   = 0 times
Total   = 391 times